In order to help Club Payne run more efficiently, especially in regards to fundraising, the Club Payne Board of Directors has been considering a major revision to the original Club Payne Bylaws.
The initial bylaws, which created Club Payne, got the club off to a promising start. They had been developed with the idea in mind that a large group of family members could each pay $150 per year to acquire Dissolution Rights. As time progressed, however, it became obvious that the minimum amount was unaffordable to many, and it never successfully raised the amount needed in any given year, to totally cover the expenses of running and maintaining the LMH. Those family members who covered the gap, did so without commensurate benefit in either voting or ownership (Dissolution Rights).
For a short time, the Club experimented with the “Brick” method of fundraising. It was somewhat more successful in raising money, but still did not meet the needs of the club, or solve the longstanding problem that those who give more to the LMH, get no greater ownership interest.
Understanding that a remedy was needed in order for the LMH to stay in the family, the Directors set about revising the Bylaws to accomplish the following goals:
- Keep membership at an affordable cost for all
- Raise more money by giving members an incentives to give more
- Give added benefits to Members who maintain their membership from year to year.
It is expected that Revised Bylaws will be in place soon. Hopefully all family members will understand and support the needed changes.